Good accounting systems will help you to organise and keep track of your business activities. By learning the basics of accounting, you can ‘do the books’ and understand the difference between terms such as cash and accrual accounting.

Check out our information on what you need to consider when setting up accounting systems for your business.

Setting up your accounting system

• Learn the best ways to choose someone to do your accounts.
• Read more about why you should set up a basic bookkeeping system.

Invoicing and collecting payment

• Learn more about invoicing and collecting payments.
• See what’s involved in choosing payment methods for your business.
• Find out about the different types of invoices.
• Find out how to create an invoice, including what you should include on your invoices.
• Learn how to create a receipt or other proof of purchase.
• Find out about setting payment terms and why it is important for your business and customers.
• Find out how you can protect your business and manage unpaid debt.

Budgeting and reporting

• Read more about preparing a budget for your business, including budgeting and forecasting.
• The end of the financial year can be a busy time for your business. Find out more about essential tasks at the end of financial year (EOFY).

Find out more

• Search Advisory Services to find a business adviser near you.